This paper provides a broad empirical examination of the major currencies' roles in international capital markets, with a special emphasis on the first year of the euro. A contribution is made as to how to measure these roles, both for international financing as well as for international...

This paper discusses the factors determining the international use of the euro, the relation of it with the ECB monetary policy and the overall use of the euro in the international monetary system since its introduction. The euro has become the second most important international currency after...

This paper studies the implications of cross-border financial integration for financial stability when banks' loan portfolios adjust endogenously. Banks can be subject to sectoral and aggregate domestic shocks. After integration they can share these risks in a complete interbank market. When...

The paper aims to present digital transformation as a process that has been taking place in the digital economy and the European Union’s economy in recent years and its impact on changes in the economic and social sphere. As a starting point, this paper considers the importance of advanced...

The aim of the paper is to present a review of transnational regulations (global and European) in the field of environmental protection and the circular economy. The paper discusses the regulations proposed in publications and reports of such glob-al organizations and UN Agencies as the United...

The aim of this paper is to present selected results achieved by the Member States of the EU in the context of the recent global and European strategies oriented toward enhancement of the role of renewable energy sources and on mitigation of negative climate changes in the Earth. Special...

This paper analyses the evolution of the new environmental policy of the European Union in the context of the efforts undertaken to moderate the negative effects of climate change. It describes all the activities in the European Union designed to implement new tools of the EU environmental...